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Joseph Nyes Theory of Modern International Relations
become a self-serving and self perpetuating monster. If the credit-worthiness of this country takes a wrong turn, it will upset the global currency system. Find out soon in this space. That magic moment may be at hand this week as the US congress returns from Easter recess to face its budget and debt ceiling dilemmas. Are we so sure about where their voters go in the second and final round two weeks from now? I suspect that most Americans even the ones who follow Rachel Maddow are about as interested in French politics as differential calculus.
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But that is now flying apart. Even if the underlying conditions remained the same, this might not be possible. But the dishonesty at work is pretty obvious, and the problem with dishonesty in financial affairs is that it represents unreality. The ultimate reality, politicians and economists will soon discover, is that you cant create your own reality. As I write, the French stock market (the CAC 40 is doing a grand jet (up.5 percent!) in celebration of Emmanuel Macrons assumed slaying of the dragon Le Pen.